Fed, CPFB Announce New Thresholds for Regulation CC Funds Availability

Posted: May 15 2024

The Federal Reserve and CFPB yesterday announced they had jointly adjusted for inflation dollar amounts relating to the availability of customer funds, with the adjustments taking effect July 1, 2025. The changes in Regulation CC include the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits. They also include the amount of funds deposited by certain checks in a new account that are subject to next-day availability. The agencies are required to adjust the dollar thresholds every five years.
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The new thresholds are:

‌Minimum amount: $275
Cash withdrawal amount: $550
New account amount: $6,725
Large-deposit threshold: $6,725
Repeatedly overdrawn threshold: $6,725
Civil liability minimum and maximum for individual action: $125/$1,350
Civil liability maximum for class action: $672,950

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To read more, visit: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20240513a1.pdf